Category Archives: Economics on the left

Government to be subsidising Porsches

Here I was thinking that I has bought my last car and wouldn’t be in the market for another car. But no. Bill Shorten is promising to subsidise Australians into luxury cars. “How long does it take to charge it … Continue reading

Posted in 2019 election, Economics on the left, Politics of the Left, Taking out the trash | 18 Comments

Is the Venezuelan economy suffering from a deficiency of demand?

The Venezuelan economy is in a mess. Everyone knows it; no one denies it. There has been a catastrophic fall in real incomes and wealth. Why? Is it because everyone has decided to save rather than spend? Is it because … Continue reading

Posted in Economics and economy, Economics on the left | 15 Comments

These socialist loons are completely mainstream

Start with this, from the New York Times: Modern Monetary Theory Makes Sense, Up to a Point. It begins: The term “modern monetary theory” has been talked about so much lately that we mainstream economists need to try to understand … Continue reading

Posted in American politics, Economics on the left | 17 Comments

Daniel Andrews vs electricity consumers.

Daniel Andrews closed Hazelwood power station by racking up the royalty on coal. Result, soaring electricity prices. Socialism working to impoverish the people just like it does in Venezuela. Except the big winners here are the crony capitalists rather than … Continue reading

Posted in Economics on the left, Global warming and climate change policy, Rafe | 8 Comments

New York waiters know economics better than leftwing celebrities

But how hard is that? Dan Mitchell reports that waiters in New York have rubbished a high-profile push by female showbiz celebs to raise the minimum wage. (Using waiters in a gender neutral sense like pilots and captains. Who needs … Continue reading

Posted in Economics on the left, Rafe | 14 Comments

More trouble looming for Venezuela

It is hopefully only a matter of time before Juan Guaido inherits the ruins of Venezuela. But Ben Powell and Rafael Acevido warn that the road to recovery will be long and hard under the socialist policies that Guaido will … Continue reading

Posted in Economics on the left, International, Rafe | 15 Comments

What I learned from my presentation on socialism

Quite interesting discussion today on what’s wrong with socialism and why don’t we teach what’s wrong with socialism. The consensus at the end – which I might add I am not part of – was that we do teach what … Continue reading

Posted in Economics on the left, Socialism | 27 Comments

Invitation to seminar tomorrow on Why Socialism Cannot Work

I am doing my presentation to the School tomorrow on “I, Mechanical Pencil” which is really a critique of socialism as well as a critique of standard textbook theory which never discusses anything relevant to why a socialist economy can … Continue reading

Posted in Economics on the left, Socialism | 23 Comments

Doubling down on incompetence

What else is he going to say, I suppose, but say it he did: Labor’s record spending while in power has been used as an attack for years. Wayne Swan, responsible for the debt, says he’s proud of it. That … Continue reading

Posted in Economics on the left, Federal Politics | 23 Comments

What is capitalism?

There is an interesting thread at Powerline on the question What is socialism? The central aim of socialism has always been to rid ourselves of the capitalist system. And what, exactly, do these socialists wish to get rid of? Certainly … Continue reading

Posted in Economics and economy, Economics on the left, Socialism | 72 Comments